Daily Recommendations on Major - EUR/USD
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Update Time: 07 Jun 2018 5:30 GMT
EUR/USD - 1.1789
Yesterday's rally to 1.1796 in New York following hawkish comments earlier in European morning by ECB officials suggests euro's upmove from last Tuesday's 10-month bottom at 1.1510 may head to chart res at 1.1830.
However, near term loss of upward momentum would prevent further strong gain and risk has increased for a retreat later today or tomorrow.
Below 1.1744 signals temporary top is in place and yields retracement to 1.1705/10, then towards 1.1677.
Data to release later today:
Swiss unemployment rate, Germany industrial orders, France current account, trade balance, imports, exports, U.K. Halifax house prices, Italy retail sales, EU GDP.
U.S. initial jobless claims.
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